I 
26.06
+0.54%
Close of 9 Nov 2026, in HKD
Search any instrument
Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.21bn
FY2021FY2025
Net income
−CN¥840.5m
FY2021FY2025
Free cash flow
−CN¥1.02bn
FY2021FY2025
Shareholders' equity
CN¥4.21bn
FY2021FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.21bn | CN¥703.9m | CN¥503.6m | CN¥115.7m | CN¥68.2m |
| Research and development | CN¥374.2m | CN¥274.5m | CN¥296.3m | CN¥493.8m | CN¥661.7m |
| Operating income | −CN¥752.7m | −CN¥816.8m | −CN¥835.3m | −CN¥999.1m | −CN¥1.00bn |
| Net income | −CN¥840.5m | −CN¥888.5m | −CN¥936.3m | −CN¥1.87bn | −CN¥3.40bn |
| Diluted earnings per share | -0.92 | -1.01 | -1.01 | -2.01 | -3.65 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Total assets | CN¥7.07bn | CN¥5.55bn | CN¥3.90bn | CN¥4.84bn | CN¥6.62bn |
| Cash and short-term investments | — | CN¥1.52bn | CN¥296.6m | CN¥1.16bn | — |
| Total liabilities | CN¥2.86bn | CN¥2.58bn | CN¥2.23bn | CN¥2.32bn | CN¥10.75bn |
| Debt | CN¥1.89bn | CN¥1.46bn | CN¥1.34bn | CN¥1.42bn | CN¥1.23bn |
| Shareholders' equity | CN¥4.21bn | CN¥2.97bn | CN¥1.67bn | CN¥2.52bn | −CN¥4.13bn |
| Shares outstanding | 915m | 879m | 931m | 931m | 931m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash from operations | −CN¥806.4m | −CN¥336.3m | −CN¥504.4m | −CN¥795.6m | −CN¥562.1m |
| Capital spending | −CN¥210.6m | −CN¥171.8m | −CN¥281.5m | −CN¥394.8m | −CN¥1.12bn |
| Free cash flow | −CN¥1.02bn | −CN¥508.1m | −CN¥785.9m | −CN¥1.19bn | −CN¥1.68bn |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | |
|---|---|---|---|---|---|
| Revenue | CN¥659.9m | CN¥553.4m | CN¥376.1m | CN¥327.8m | CN¥241.8m |
| Operating income | −CN¥376.8m | −CN¥375.9m | −CN¥439.8m | −CN¥377.0m | −CN¥396.1m |
| Net income | −CN¥411.8m | −CN¥428.7m | −CN¥473.9m | −CN¥414.7m | −CN¥443.8m |
| Diluted earnings per share | -0.45 | -0.47 | -0.54 | -0.47 | -0.48 |
| Cash from operations | — | — | −CN¥285.0m | −CN¥132.0m | −CN¥504.0m |
| Capital spending | — | — | −CN¥145.0m | −CN¥60.0m | −CN¥281.0m |
| Free cash flow | — | — | −CN¥430.0m | −CN¥192.0m | −CN¥785.0m |
| Total assets | CN¥7.07bn | CN¥5.86bn | CN¥4.71bn | CN¥4.13bn | — |
| Cash and short-term investments | — | CN¥1.64bn | CN¥1.30bn | CN¥621.7m | — |
| Debt | CN¥1.89bn | CN¥2.14bn | CN¥1.24bn | CN¥1.32bn | — |
| Shareholders' equity | CN¥4.21bn | CN¥2.68bn | CN¥2.52bn | CN¥1.87bn | — |
Financial ratios
Data as of 17 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating margin | -65.2% | -116.0% | -165.8% | -1536.8% | — |
| Net margin | -69.3% | -126.2% | -185.9% | -1619.6% | -4983.3% |
| Return on equity | -20.0% | -35.2% | -56.1% | -74.5% | 82.4% |
| Return on assets | -11.9% | -18.9% | -24.0% | -38.7% | -51.3% |
| Free cash flow yield | -1.6% | -0.5% | — | — | — |
| Revenue growth | 46.4% | 39.8% | 335.3% | 99.6% | — |
| Earnings growth | -19.6% | -5.1% | -50.0% | -35.1% | — |
| Current ratio | 5.29x | 2.47x | 1.20x | 1.91x | 1.66x |
| Debt to equity | 0.45x | 0.47x | 0.79x | 0.55x | -0.30x |
| Equity ratio | 59.6% | 53.6% | 42.8% | 52.0% | -62.3% |
| Interest coverage | -9.06x | -75.48x | -61.23x | -40.58x | — |
| R&D as a share of sales | 30.8% | 39.0% | 58.8% | 426.7% | 970.0% |
| Buybacks as a share of market value | -4.1% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 118.9% | — | — |
| Operating income | -9.0% | — | — |
| Net income | -23.5% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | -73.8 | -26.9 |
| Price to sales | 51.1 | 34.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.